Jura Energy Corporation

Jura Energy Corporation

July 21, 2016 09:00 ET

Jura Announces Voluntary Delisting from the Toronto Stock Exchange and Concurrent Application to List on the TSX Venture Exchange and Voting Results of Election of Directors

CALGARY, ALBERTA--(Marketwired - July 21, 2016) - Jura Energy Corporation ("Jura" or the "Corporation") (TSX:JEC) announces that it has applied to voluntarily delist its common shares (the "Shares") from the Toronto Stock Exchange (the "TSX") and is in the process of applying to list the Shares on the TSX Venture Exchange (the "TSX-V") pursuant to the streamlined listing procedure prescribed by TSX-V Policy 2.3 for companies transferring from the TSX.

Primarily as a result of Eastern Petroleum Limited's ("EPL") 73.3% shareholding in Jura, the Corporation does not meet the TSX's continued listing requirements to maintain the requisite market value of its "public float" (which excludes the Shares held by EPL and other insiders), which was less than $2 million for over 30 consecutive trading days. Listing of the Shares on the TSX-V is subject to acceptance by the TSX-V.

The Corporation has initiated discussions with the TSX-V and plans to complete this process within 45 days. The Corporation will issue a subsequent news release at least 10 business days in advance of Jura's delisting from the TSX and the concurrent listing on the TSX-V.

Jura also announces that each of its incumbent directors, Stephen C. Akerfeldt, Shahzad Ashfaq, Timothy M. Elliott, Shahid Hameed, Akbar Kazmi, Stephen Smith and Frank Turner was re-elected at the annual meeting of the shareholders held on June 20, 2016. The detailed results of the votes are set out below.

Director Votes for % Votes withheld %
Stephen C. Akerfeldt 100 0
Shahzad Ashfaq 100 0
Timothy M. Elliott 99.9987 0.0013
Shahid Hameed 100 0
Akbar Kazmi 100 0
Stephen Smith 99.9987 0.0013
Frank Turner 100 0

About Jura Energy Corporation

Jura is an international energy company engaged in the exploration, development and production of petroleum and natural gas properties in Pakistan. Jura is based in Calgary, Alberta and conducts its business in Pakistan through its wholly-owned subsidiaries, Frontier Holdings Limited and Spud Energy Pty Limited.

Forward Looking Advisory

This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws. The words "expected", "will", and similar expressions are used to identify forward looking information. Specific forward-looking statements in this press release include statements (express or implied) relating to the listing of the Shares on the TSX-V, acceptance by the TSX-V of the Shares, completion period of the TSX-V streamlined process and the expected TSX delisting date. The forward-looking statements contained in this press release are based on management's beliefs, estimates and opinions on the date the statements are made in light of management's experience, current conditions and expected future development in the areas in which Jura is currently active and other factors management believes are appropriate in the circumstances. Jura undertakes no obligation to update publicly or revise any forward-looking statement or information, whether as a result of new information, future events or otherwise, unless required by applicable law.

Readers are cautioned not to place undue reliance on forward-looking information. By their nature, forward-looking statements are subject to numerous assumptions, risks and uncertainties that contribute to the possibility that the predicted outcome will not occur, including some of which are beyond Jura's control. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. See Jura's Annual Information Form for the year ended December 31, 2015, available on SEDAR at www.sedar.com, for a description of the risks and uncertainties associated with Jura's business.

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